The global financial crisis of 2007–09 was the result of a cascade of financial shocks that threw many economies off course. The economic damage has been extensive, with few countries spared – even those far from the source of the turmoil. As with many economic events, the impact has varied from country to country, from sector to sector, from firm to firm, and from person to person. China’s growth, for example, never dipped below 6% and Australia’s worst quarter was one with no growth. The economies of Japan, Mexico and the United Kingdom, however, suffered GDP contractions of 5–10% at.
